Custer chronicle. [volume] (Custer City, Black Hills, D.T. [S.D.]) 1880-1890, 1887-01-01
Early Coin Making.

Early Coin Making.
Philadelphia Press: The history of
he early mint resembles the early lives
of our most successful millionaires in
that it commenced to make money in
small amounts and in "A very humble
way. The three-story structure. 81
and 80 North Seventh street, Philadel-
| phia, was chosen as the site for the
United States mint, and there it re-
NAMED from 1892 until 1888 when it
was removed to its present location.
The subject of a National coinage
was agitated rs early as 1882, when
Robert Morris, the ~financier and the
signer of the Declaration of Indepen-
dence advocated a system of coinage
for the United States: ''ten units were
to equal one penny, ten pence to make
one bit and ten bits to make one dol
lar. Dies for these pieces were made
and several specimens struck in silver,
called the mark, quint and bit. All of
them are exceedingly rare and valua-
BILE. A mark sold for S540 in II pub
lie sale in New York, and the bit, of
which but one specimen has been
brought to light, and which was re-
Gently bought in a sale of coin in Scot
land by w. +. Woodward, of Boston.
is valued at $3.50.
These patterns or experimental coins
are historically most Interesting, as
they comprise the earliest efforts for
the establishment of Il government
coinage. The foundation OF the new
mint was laid by David RittenhOuse on
July 81, 1892, at 10 O'Clock a. n. On
September II, 1892, the mint made the
first purchase of coming metal, six
pounds Of old copper at. / shilling 3
pence per pound. Three presses were
put up and operated in the beginning
of October, the first pieces coined be-
ing the Martha Washington half-dimes,
OK which President Washington speaks
in his annual message to congress, No
venlber g., 1892, as follows: s'In the
execution of the authority given 10y the
legislature, measures have been taken
for engaging some artists from abroad
to aid in the establishment of our minis.
Others have been employed at home.
Provisions have been made for the
requisite buildings, and these are now
putting into proper condition for the
purpose Of the establishment. There
was n small beginning III The coinage
of half-dimes; the want Of small coins
in circulation calling the first attention
TO them"
There is a tradition generally be-
lieved by numismatisls, that these
pieces were struck from the private
plate of Washington, which he had
melted up for that purpose, and that
Martha Washington sat before the art
ist who designed the dies. This is very
probable, AS Washington was greatly
interested in the infant mint, person
ally experimenting many of its affairs.
For this reason the coins are highly
priced by collectors, a number of
other dies were made and coins struck
in 1892, as patterns or designs for a
regular coinage. Notable among
them is the Washington silver half-dol-
lar. The dies for this piece were made
by Peter Getz, Of Lancaster, and on
the diverse IS represented the bust OF
Washington, facing left. The only
perfect specimen of this piece is owned
by Mr.. Il. c. Davis, of this city, who
nas repeatedly refused $500 for il.
The mint did not, however, com
mence It's regular business till 1898,
when the copper cert and half-cent first
made.their appearance, and. although
quite q large number of these were
coined, nc less, in fact, than 1l2,2l2
cents, yet they are seldom net with
now, and n perfect unused specimen
has sold at auction for 5000. The half
pennies of the date do not command SO
much, in fine state Of preservation only
bringing from $40 and $40. The most
valuable Of the early pennies are those
Of 1899 and 1904, and if these could
be obtained in uncirculated condition.
that is, as fine as when dropped from
the die, they would sell for from $500
to $500 each.
In the year 1894 the silver dollar
first made its appearance, and the coin
age of the half-dime was resumed. OF
the dollar but few really excellent i'm
prCssions can be found, and they would
readily realise from 500 to 5000 each.
The coinage of silver dollars continued
till 1904, large numbers being put in
circulation.
The silver dollar of 1904, surnamed
the s'King Of American Coins will
probably command a larger price than
any other of the American series, and
in the face of the fact that it is not gen
orally conceded by collectors who have
thoroughly investigated the subject
that there ever was or is u genuine coin
of that date, struck in that year, known
to the numismatic world. That dies
were made for the piece is ungues-
toned, and that there were several re-
strikes from the dies as late rs 1860 is
also admitted. The two specimens in
the mint cabinet are restrikes, rs are
al the others which have recently been
ofrnr.I for S,1p but oS thpy sell for